logo
Associated Bank sees new hires driving commercial growth

Associated Bank sees new hires driving commercial growth

Yahoo06-05-2025

This story was originally published on Banking Dive. To receive daily news and insights, subscribe to our free daily Banking Dive newsletter.
Having added new bankers and lending verticals, Associated Bank is chasing growth in its commercial bank, even as economic uncertainty lingers.
Green Bay, Wisconsin-based Associated recently hired three relationship managers for its commercial banking team in Kansas City, Missouri. All three come from super-regional U.S. Bank, where Phil Trier, the bank's head of corporate and commercial banking, spent more than two decades before he joined Associated 15 months ago.
'I knew all three of them very well from my predecessor bank, and how talented they are, and really excited about the impact that they're already making in a relatively short period of time,' Trier said.
Phil Trier, Associated Bank's head of corporate and commercial banking
Those three bankers will cover Kansas, Oklahoma and Texas for the $43 billion-asset lender. 'We're going to pause there a little bit, get the level of execution up, and then over time, I could see us growing that team, as well as looking at a more adjacent state kind of hiring strategy,' Trier said.
More broadly, the bank has hired 25 relationship managers across its core footprint in the last two years, who have come from large national, regional and community banks, he said.
'A lot of what we do is driven by talent,' he said. 'Talent is going to lead where we go and help drive those decisions.'
The Midwest lender has completed planned investments in technology and people in its corporate and commercial segment, which serves companies with revenues of $25 million or more and includes specialty businesses such as equipment finance and treasury management.
As part of his strategy, Trier also introduced a new deposit-centric vertical with a national scope, focusing on title and escrow companies, property management firms and some fintech businesses. The banker hired to lead that endeavor, Rick Bruhn, is also a U.S. Bank veteran.
Now, the bank is focused on execution, strengthening Associated's core business in the Midwest and expanding in newer markets.
That growth is fundamental to the bank's strategy: Expanding the commercial bank is geared toward diversifying the bank's balance sheet, as Associated rebalances from being more focused on lower-yielding consumer mortgages and consumer debt, to growing its commercial business and enhancing the products and services it offers those customers, Trier said. That's ultimately designed to bolster profitability.
Especially in what Trier referred to as a 'hyper-competitive market,' talent wins 'can make a material difference,' he said.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

FanDuel appears ready to sacrifice bettors on the altar of lower taxes
FanDuel appears ready to sacrifice bettors on the altar of lower taxes

USA Today

timean hour ago

  • USA Today

FanDuel appears ready to sacrifice bettors on the altar of lower taxes

FanDuel appears ready to sacrifice bettors on the altar of lower taxes Last week, we talked about the new online sports betting tax in Illinois that would hit operators with a 25 cent fee for each of the first 20 million bets they take and a 50 cent fee for every bet after that -- and how those operators appeared ready to pass those fees on to customers. On Tuesday, FanDuel became the first operator to do just that. In response to the new Illinois tax (which followed a separate increase in 2024), FanDuel announced the addition of a 50-cent transaction fee for every bet by Illinois customers beginning Sept. 1, which is two months after the tax goes into effect on July 1 and, according to InGame, the month when the operator is likely to hit the 20-million bet threshold that triggers the 50-cent tax. FanDuel would effectively eat the first two months of the tax at 25 cents. "Should the state reverse its decision at any point in the future, FanDuel will immediately remove the $0.50 transaction fee," the statement said. If that doesn't make obvious what FanDuel is attempting to do -- use bettors to pressure lawmakers into retracting the new tax -- Flutter CEO Peter Jackson's words should: "We are disappointed that the Illinois Transaction Fee will disproportionately impact lower wagering recreational customers while also punishing those operators who have invested the most to grow the online regulated market in the state. We also believe the introduction of the Illinois Transaction Fee will likely motivate some Illinois-based customers to bet with unregulated operators." It's all right there. FanDuel isn't wrong that this transaction fee has the potential to push some customers to unregulated operators -- particularly if other regulated operators follow suit with their own fees -- but that can only happen if said operators are passing the fee to customers in the first place. Remember, this is originally a tax on the operator. Then again, that seems to be the point. Bettors are set to get the raw end of this deal, and FanDuel is doing its part to make sure lawmakers get the blame. Whether that's fair is a question for someone smarter than myself. I have no clue whether the new taxes actually are too exorbitant to expect operators to continue eating the costs. But that's obviously what they want us to believe, and they appear willing to sacrifice customers to prove as much -- because not everyone is going to care the reasons behind why a $1 bet is costing them $1.50. They'll just take their business elsewhere. After last year's Illinois tax increase, DraftKings announced its own plans for a surcharge that never actually saw the light of day after other operators didn't follow suit. This time, it's FanDuel putting its brand loyalty to the test in what feels like an attempt to make lawmakers to reverse course. But with three months before these transaction fees are set to hit customers, that pressure will eventually shift to FanDuel to follow through. The unfortunate part about this game of chicken between operator and government is that bettors are the ones caught between the headlights.

Edmonton Lawyers Report a Surge in Civil Disputes Between Co-Founders
Edmonton Lawyers Report a Surge in Civil Disputes Between Co-Founders

Yahoo

timean hour ago

  • Yahoo

Edmonton Lawyers Report a Surge in Civil Disputes Between Co-Founders

Edmonton, Alberta , June 10, 2025 (GLOBE NEWSWIRE) -- A new study from Forum Law, a leading Edmonton-based law firm, has uncovered a significant rise in civil disputes between co-founders of businesses across the region. This trend is drawing attention to the growing complexities and risks involved in startup partnerships, highlighting the need for clearer agreements and proactive legal CIVIL COURT CASES INITIATED IN CANADAWhile entrepreneurship continues to thrive in Edmonton and across Canada, the increase in co-founder conflicts reveals underlying challenges that can threaten even the most promising ventures. Disputes between business partners can arise from a variety of issues including misaligned expectations, disagreements over roles and responsibilities, equity splits, and financial management. These conflicts often result in costly litigation, damaged business relationships, and even the dissolution of companies. Key Insights from the Study The Forum Law report analyzed recent case trends and identified several key factors contributing to the surge in co-founder disputes: Lack of Clear Agreements: Many startups begin without formalized partnership agreements, leaving roles, decision-making processes, and equity ownership open to interpretation and disagreement. Communication Breakdowns: Differences in vision, management style, and communication preferences often fuel misunderstandings between co-founders. Financial Disputes: Conflicts around funding, profit distribution, and financial transparency have become common flashpoints. Intellectual Property and Ownership Issues: Disputes over who owns business ideas, technology, or product rights are increasingly frequent. Growth and Scaling Challenges: As startups grow, initial informal agreements may not suffice, creating friction around new roles and equity adjustments. Legal Experts Call for Proactive Measures 'Entrepreneurship is exciting but can be fraught with unexpected challenges,' said a representative from Forum Law. 'Our study underscores how important it is for co-founders to establish clear, legally binding agreements from the outset. Doing so can prevent misunderstandings and provide a roadmap for resolving conflicts if they arise.' The firm recommends that new business partners invest time in drafting detailed shareholder or partnership agreements, clearly defining each person's roles, equity stakes, dispute resolution methods, and exit strategies. Engaging experienced legal counsel early on can help entrepreneurs avoid pitfalls and protect their ventures. Supporting Edmonton's Entrepreneurial Community The rise in disputes signals an urgent need for education and support within Edmonton's growing startup ecosystem. Forum Law offers specialized legal services tailored to startups and entrepreneurs, helping them navigate the complexities of partnership law and safeguarding their businesses for long-term success. Civil disputes among co-founders not only disrupt businesses but also impact innovation and economic growth. By raising awareness and promoting best practices, Forum Law hopes to foster stronger, more resilient business partnerships throughout Alberta. To read the full study, visit: Edmonton Lawyers Report a Surge in Civil Disputes Between Co-Founders Alternative dispute resolution & LitigationAbout Forum Law Forum Law is a respected Edmonton-based law firm specializing in civil litigation, business law, and dispute resolution. With a commitment to practical solutions and client-focused service, the firm supports entrepreneurs, startups, and established businesses in navigating legal challenges and achieving successful outcomes. Press inquiries Forum Law Shamil Shamilov info@ 1 (587) 557-5670 11835 – 149 ST Edmonton, Alberta, Canada, T5L 2J1

Walgreens, Authentic Brands, Kourtney Kardashian among those evaluating Rite Aid assets, sources say
Walgreens, Authentic Brands, Kourtney Kardashian among those evaluating Rite Aid assets, sources say

Yahoo

timean hour ago

  • Yahoo

Walgreens, Authentic Brands, Kourtney Kardashian among those evaluating Rite Aid assets, sources say

By Abigail Summerville NEW YORK (Reuters) -Pharmacy chain Walgreens and reality star turned entrepreneur Kourtney Kardashian are among those picking over the remaining assets in Rite Aid's bankruptcy, according to two people familiar with the matter. In addition to Walgreens, brand management companies Authentic Brands Group, WHP Global and Marquee Brands have been evaluating Rite Aid's intellectual property and potentially its loyalty program, according to the people who asked not to be named because the process is private. All three brand management companies have bought the IP of other retailers out of bankruptcy. Authentic Brands, which owns Reebok and is a Saks Fifth Avenue investor, bought the IP of fast-fashion chain Forever 21 and luxury seller Barneys out of bankruptcy. WHP Global resurrected Toys "R" Us following its 2017 bankruptcy, while Marquee acquired fashion retailer BCBG Max Azria Group out of bankruptcy. Kardashian, co-founder of gummy vitamin maker Lemme and owner of wellness and lifestyle website Poosh, has expressed interest in Rite Aid's ice cream brand Thrifty, the people said. Rite Aid, which operates about 1,200 stores and has around 8 million customers, filed for bankruptcy in May for the second time in two years. U.S. Bankruptcy Judge Michael Kaplan already approved store closures and a sale of customer prescription files to 13 buyers including CVS Health and Walgreens. Brand management firms like Authentic, Marquee and WHP typically buy a brand's IP and then license it to operating partners which have the manufacturing, design and sales responsibilities. The pharmacy chain's Thrifty ice cream brand is sold by the scoop at counters in certain Rite Aid locations or by the carton at Rite Aid and other retailers nationwide. Thrifty launched in 1940 at a small factory in West Hollywood and counts several celebrities as customers, including Kardashian, who could buy the brand by herself or with a partner, the people said. Some consumer-focused private equity firms are also eyeing Thrifty, the sources said. Rite Aid, Walgreens, Authentic Brands, and WHP declined to comment. Marquee Brands and representatives for Kardashian did not respond to requests for comment. The current bid deadline for the remaining assets is June 18 at 5 p.m. ET (2100 GMT). Pennsylvania-based Rite Aid has struggled under a high debt load, inflationary pressures and increased competition.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store